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China’s Economic Growth May Kill Us All: Paul Krugman

Paul Krugman, the Nobel Prize winning economist and New York Times
columnist, believes that China is a great example of human success. The
speed and power of its economic growth, and its contribution to the
development of new technologies are shining examples of what humanity is
capable of; however, at the same time, China’s success could kill the
planet.“If you worry about climate change and stuff like
that, then China is -- Chinese growth is a wonderful human success story
that could kill us all,” he stated at a recent New York Times DealBook conference.

Chinese
growth is a huge boost to the whole global economy, yet the manner in
which that growth is fuelled is proving deadly to the climate. Krugman
noted that, “to some extent actually, we are hurt by Chinese growth.
... There are scarce natural resources, and we are in fact competing
for limited supplies of oil, minerals, etc.”

China, the
largest polluter in the world, cares little for its impact on the
environment as it looks to accelerate its development into a first world
super power. As proven by a recent story that one of China's biggest
construction companies, Pacific Construction Group, plans to spend $3.52
billion to flatten 700 mountains over an area of 500 square miles in order to expand the city of Lanzhou.

Yet
even so, it may surprise you to know that China actually has a smaller
average carbon footprint per person than the US, and most of its
greenhouse gas emissions can be attributed to production processes for
its export industries, and can therefore be partly blamed on other first
world countries.

Krugman suggests that the only solution is for
the US to treat China with more respect and give them more of a say in
trade policies. “You can't deny them a position that corresponds with
their size.”
Article Source: Oilprice